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Access to Finance & Sustainability: Call to Action for a resilient growth in Africa Focus on the Maritime Sector

Organized by: EU-Africa Chamber of Commerce and Climate Champions Team.

Format: In-person event in Abidjan, Côte d’Ivoire

Date: 17-18 October 2024

Context:

Several major challenges, such as difficulties in accessing financing or lack of funding for green technologies, still hinder the potential of strategic sectors, especially the African maritime sector. Nevertheless, the EU-Africa Chamber of Commerce (EUACC) has identified positive signs, particularly the mobilization of key players in financing access, whose progressive and systematic integration of Environmental, Social, and Governance (ESG) criteria in their financing and investment activities could be crucial to supporting the sustainable transformation of key sectors in Africa. A prestigious two-day roundtable event with invited key stakeholders from across the continent and the EU, organized in Abidjan on October 17-18, 2024, by the EUACC in partnership with the UN Climate Champions Team, resulted in a Ten-Point Call to Action, aimed at encouraging the sustainable transformation and decarbonization of Africa’s maritime sector and providing practical pathways to achieving these goals.

Objective of the Panel in Baku – COP 29:

This panel aims to present and discuss the Call to Action from the Abidjan conference, focusing on financing and investment levers to sustainably transform the African maritime sector. By bringing together key representatives of the ecosystem, the panel aims at promoting strategic partnerships and innovative financial solutions to strengthen the resilience and growth of this essential sector for the continent.

Discussion Topics:

  1. Addressing Financing Access Challenges: Explore ways to overcome the lack of funding for sustainable maritime infrastructure, including innovative instruments like green bonds, blended financing, compliance offset credits and funds dedicated to green technologies.
  2. Integration of ESG Criteria in Financing: Discuss best practices for incorporating Environmental, Social, and Governance (ESG) criteria into financing choices, aligned with the commitments of banks and financial institutions.
  3. Regulatory Harmonization for Sustainable Growth: Highlight the importance of harmonized regulations across Africa to facilitate the adoption of practices for the sector’s sustainable transformation.
  4. Role of Public-Private Partnerships (PPP): Explore opportunities for public-private partnerships to support resilient projects.

Expected Outcomes:

  • Increased awareness of sustainable growth and resilience issues in Africa’s maritime sector.
  • Pathways to solving the dilemma: maximizing the economic potential of the maritime sector for Africa’s development while decarbonizing and futureproofing the sector.
  • Broadening and showcasing available financing options.
  • Highlighting strategic partnerships between banks, governments, and private actors to promote sustainable financing.
  • Stakeholder commitment to supporting the Ten-Point Call to Action to accelerate the transition toward a more resilient African maritime sector.

Panel Agenda:
Access to Finance & Sustainability: Call to Action for a resilient growth in Africa

Focus on the Maritime Sector

Total Duration: 1h30

Welcome and Introduction

Nele Lahrmann – Muniru –EU-Africa Chamber of Commerce (EUACC)

Opening Remarks

    • HEM Jaques Konan Assahore – Minister of Environment – Côte d’Ivoire: Welcome remarks and presentation on Côte d’Ivoire’s commitment to sustainable development.
    • Sponsors: Presentation of the sponsor’s ESG strategy, including specific commitments to sustainable financing and positive impact on the maritime sector.

Presentation of the Call to Action

    • Sonia Toro – EUACC Executive Director & Head of Abidjan Conference Organizing Committee

 

Roundtable: Challenges and Solutions for Sustainable Financing in the Maritime Sector

    • Moderation: Sonia Toro – Executive Director – EUACC
    • Panel:
      • HEM Jaques Konan Assahore – Minister of Environment – Côte d’Ivoire
      • Dr. Adalikwu – Secretary General – MOWCA
      • Amanda Archibong – Global Center of Adaptation
      • Representative of the Office of the Special Adviser to the Governor on Climate Change and Circular Economy (OCCE), Lagos State, Nigeria
      • Akanksha Sharma – Head of GSMA ClimateTech and Digital Utilities programme

Q&A with the Public

Conclusion and Signing of the Call to Action

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